The Learning Lab

5 KEY COMMERCIAL ISSUES TO CONSIDER WHEN STARTING A NEW BUSINESS

Loretta Maxfield, Thorntons

1.25pm – 1.45pm

When starting any new business venture it is absolutely vital to do thorough ground work. While your main focus may be on your product or your service, failure to give proper consideration to the commercial/legal issues can be a costly mistake, both in terms of your time and your money! Loretta will provide an overview of 5 key issues which she recommends any new business gives some thought to at the earliest opportunity. These are: (i) getting your corporate structure right for you; (ii) ownership of your goods/services; (iii) identifying and securing your brand; (iv) dealing with customers; and (v) getting/keeping your business investor ready.

Loretta is an Associate in Thorntons’ Business Law Department and is qualified in both Scots and English law. She has a particular focus on intellectual property and sits on the Law Society of Scotland’s Sub-committee for Intellectual Property Reform. Loretta works with a range of clients from individuals, start-ups, educational establishments and large multinational companies. In addition to general commercial contracts, she advises on data protection, freedom of information and a wide range of contentious and non-contentious IP and IT related matters.

MAKE A CUSTOMER, NOT JUST A SALE

Marie Rodgers, Total Sales Solutions

12.55pm – 1.15pm

Without sales our businesses wouldn’t survive, it doesn’t matter what industry you work in, we all need sales. Marie runs the only sales school in Scotland, and knows that the very best salespeople are “sales psychologists. To improve your sales, you must think like your customer, and understand how and why they buy.

Marie will take you through some top tips that will help you structure your sales offerings so that they touch on the right key motivations to make buyers buy. Marie will offer some insights that will change the way you think about selling, whether you are experienced or new to the role.

FRANCHISING – UNLOCK THE FULL POTENTIAL OF YOUR BUSINESS

Suzie McCafferty, Platinum Wave Franchising

9.45am – 10.05am

Want to take your business to the next level? Like the idea of having a national or even international presence? Come to this talk and find out how franchising could be the answer.

So, what can franchising help you achieve? Short answer is growth. Franchising can be a great way to grow your business relatively quickly and without as much capital expenditure as traditional expansion i.e. buying new sites and employing great managers and teams.

You’ll also need to prove that your business works of course – you can’t franchise an idea! You’ll also need to demonstrate that it can be replicated in a different location and that your business systems and procedures can be learned by someone else. There’s a lot of things to consider, but there can be a whole lot of upside to getting it right.

Want to explore if your business could make a great franchise? See you at the talk!

While still in her early twenties, Suzie took her single retail outlet ink cartridge business in Edinburgh and turned it into a network of more than 70 franchised outlets in the UK, Ireland, Southern Europe, The Middle East and The Caribbean. By 30 she was Director of a £30m turnover recruitment franchise network with almost 90 franchisees. Suzie now runs franchise consultancy firm Platinum Wave, using her experience in this area to help prepare businesses for franchising, and to help franchisees make the most of their business.

Sara Budge, Programme Director

Business Women Scotland is an independent contract publishing and network company, delivering innovative and award-winning publications. We also run networking events and business masterclasses for women in business in Glasgow, Aberdeen and Edinburgh.